RBC Bearings Incorporated (NYSE:RBC) Shares Bought by Amalgamated Bank

Amalgamated Bank raised its stake in shares of RBC Bearings Incorporated (NYSE:RBC) by 7.6% during the 4th quarter, Holdings Channel reports. The institutional investor owned 14,731 shares of the industrial products company’s stock after buying an additional 1,038 shares during the period. Amalgamated Bank’s holdings in RBC Bearings were worth $4,407,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in RBC. Bank of New York Mellon Corp increased its position in shares of RBC Bearings by 0.6% during the 4th quarter. Bank of New York Mellon Corp now owns 199,174 shares of the industrial products company’s stock valued at $59,581,000 after purchasing an additional 1,103 shares during the period. Arcadia Investment Management Corp MI boosted its position in shares of RBC Bearings by 41.0% in the 4th quarter. Arcadia Investment Management Corp MI now owns 1,409 shares of the industrial products company’s stock valued at $421,000 after purchasing an additional 410 shares during the period. TimesSquare Capital Management LLC boosted its position in shares of RBC Bearings by 7.5% in the 4th quarter. TimesSquare Capital Management LLC now owns 97,390 shares of the industrial products company’s stock valued at $29,133,000 after purchasing an additional 6,785 shares during the period. Venturi Wealth Management LLC increased its position in shares of RBC Bearings by 2,405.3% in the fourth quarter. Venturi Wealth Management LLC now owns 476 shares of the industrial products company’s stock worth $142,000 after acquiring an additional 457 shares in the last quarter. Finally, Truist Financial Corp raised its holdings in shares of RBC Bearings by 1.0% during the fourth quarter. Truist Financial Corp now owns 20,268 shares of the industrial products company’s stock valued at $6,063,000 after acquiring an additional 199 shares during the period.

RBC Bearings Stock Up 0.4 %

Shares of RBC opened at $359.08 on Friday. RBC Bearings Incorporated has a 52 week low of $241.43 and a 52 week high of $372.83. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.18 and a current ratio of 3.43. The firm has a market capitalization of $11.28 billion, a P/E ratio of 49.32, a P/E/G ratio of 4.42 and a beta of 1.58. The company has a 50-day simple moving average of $330.00 and a 200-day simple moving average of $312.02.

Wall Street Analyst Weigh In

A number of brokerages have commented on RBC. Morgan Stanley raised their price objective on RBC Bearings from $360.00 to $390.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 4th. Truist Financial boosted their price target on RBC Bearings from $351.00 to $410.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. KeyCorp increased their price target on shares of RBC Bearings from $375.00 to $395.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. William Blair reiterated an “outperform” rating on shares of RBC Bearings in a report on Tuesday, November 26th. Finally, Bank of America lowered RBC Bearings from a “buy” rating to a “neutral” rating and increased their price objective for the company from $330.00 to $335.00 in a report on Thursday, November 21st. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $361.20.

Insiders Place Their Bets

In related news, Director Michael H. Ambrose sold 400 shares of the company’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $362.89, for a total value of $145,156.00. Following the sale, the director now owns 6,728 shares of the company’s stock, valued at $2,441,523.92. The trade was a 5.61 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Robert M. Sullivan sold 8,000 shares of the stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $362.25, for a total transaction of $2,898,000.00. Following the completion of the transaction, the chief financial officer now directly owns 11,382 shares of the company’s stock, valued at $4,123,129.50. This trade represents a 41.28 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 10,900 shares of company stock worth $3,963,031. 2.60% of the stock is currently owned by company insiders.

RBC Bearings Profile

RBC Bearings Incorporated manufactures and markets engineered precision bearings, components, and systems in the United States and internationally. It operates through two segments, Aerospace/Defense and Industrial. The company produces plain bearings with self-lubricating or metal-to-metal designs, including rod end bearings, spherical plain bearings, and journal bearings; roller bearings, such as tapered roller bearings, needle roller bearings, and needle bearing track rollers and cam followers, which are anti-friction products that are used in industrial applications and military aircraft platforms; and ball bearings include high precision aerospace, airframe control, thin section, and industrial ball bearings that utilize high precision ball elements to reduce friction in high-speed applications.